Northern Trust Wins GB£40 Million Transition Management Mandate from Northumberland County Council Pension Fund

Northern Trust NTRS announced today that it has been appointed to provide transition management services to Northumberland County Council Pension Fund, extending its 10-year relationship with the local government pension scheme. “Northern Trust already provides custody and related services, including securities lending and commission recapture, to Northumberland County Council Pension Fund, and we are delighted to further extend our relationship,” said Ray Bloom, head of UK government institutions at Northern Trust. “We understand that local government pension funds have unique requirements, whether they're looking for investment expertise, support and advice around regulation and ensuring transparency and accurate reporting, or a tailored custody solution, and that's why at Northern Trust we have a group dedicated to supporting our local government pension scheme clients' needs.” Northern Trust provides custody and related services to 36 percent of the local government pension schemes in the UK. This latest appointment follows a series of local government pension scheme mandates announced by Northern Trust this year, including Lancashire County Council and Lothian Pension Fund, and further underpins Northern Trust's commitment to the sector.